Panasonic to Pare Unprofitable Units

TOKYO—Panasonic Corp. said it will no longer tolerate unprofitable units in its sprawling pool of businesses, as the Japanese electronics maker tries to target improved profitability over revenue growth.

The company said it will push into new growth areas and insisted it will halt losses in businesses such as semiconductors, mobile phones and its once-mighty but now-flagging television operations. It added that it intends to supply auto companies with rechargeable batteries and in-car entertainment systems, as well as...